The figure above shows the circular flow model.
-In the figure above,which of the following transactions take place in the factor markets?
i.Michael,a student,orders a computer from Dell online.
ii.Peter gets a job at a Wal-Mart store.
iii.Apple Computer opens a new store in Georgia

Question

Quizplus · Accepted Answer

Factor markets are markets where factors of production are bought and sold. In this case, Peter getting a job at a Wal-Mart store (ii) and Apple Computer opening a new store in Georgia (iii) are both transactions that take place in the factor markets.

The Figure Above Shows the Circular Flow Model